HomeMy WebLinkAbout135-90 RESOLUTION•
RESOLUTION NO..
1 ss—a0
A RESOLUTION APPROVING A WAIVER OF THE CITY'S
COMPETITIVE BIDDING POLICY AND AUTHORIZING THE
•.SELECTION OF MCILROY BANK S. TRUST AS TRUSTEE
FOR THE BOND ISSUE.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. The Board of Directors hereby waives the
City's professional selection policy requiring competitive bidding
for the selection of a trustee in the bond issue for the reason
that said requirements are not feasible or practical forthe
amount of time that is required by the bid process.
Section 2. That the Board of Directors hereby approves
Mcllroy Bank & Trust as the Trustee for the 1990 Sales Tax bond
issue and authorizes the Mayor and City Clerk to negotiate and
enter into a contract with the Trustee for such purposes.
Section 3. The Board of Directors hereby determines that
the immediate selection of a bond trustee is necessary and
essential for the City to proceed with the provision of essential
city services in a timely manner. Therefore, an emergency is
hereby declared to exist and this resolution being necessary for
the public health, safety and welfare shall be in full force and
effect from and after its passage and approval.
PASSED AND APPROVED this 4th day of September , 1990.
ATTEST: a .`
••••
;By:''.
City_C][Ark %=
.- AS f ja
7 :ate •A 'V "�.'
54.5.•
co ‘1 ,�
_ 1
APPROVED: